Pinetree Capital Ltd. Announces Unaudited September 30, 2011 Net Asset Value Per Share Of $2.64

Pinetree Capital Ltd.(TSX:PNP) Announces Unaudited September 30, 2011 Net Asset Value Per Share of $2.64

Pinetree’s unaudited net asset value per share (“NAV”) was $2.64.NAV is calculated as at a particular date and is, by its nature, historical, and may not be reflective of Pinetree’s future performance.

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